G20 Obama warns UK about Brexit

Discussion in 'Politics, Religion, Social Issues' started by 1458279, Sep 4, 2016.

  1. 1458279 Suspended

    1458279

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    #1
    G20 summit: US President Barack Obama says Britain was wrong to vote for Brexit

    http://www.telegraph.co.uk/news/201...ent-barack-obama-says-britain-was-wrong-to-v/

    Clearly Obama doesn't like the outcome of the Brexit vote. It's the will of the people of another nation that he can't control. As an outgoing president of another nation saying "he does not want to 'punish' Britain" seems pretty out of line.

    This isn't another Brexit good or bad, this is about Obama saying what he did during the G20 summit. <let's see how long it takes for the "where's Trump tax return" people to chime in>
     
  2. thermodynamic Suspended

    thermodynamic

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    #2
  3. 1458279 thread starter Suspended

    1458279

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    So are you saying the UK in the EU didn't do well for the people in the UK?
     
  4. Snoopy4 macrumors 6502a

    Snoopy4

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    #4
    None of the globalist losers like Brexit.
     
  5. Zombie Acorn macrumors 65816

    Zombie Acorn

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    Obama should be lining up to make a better trade deal out of this situation since the U.K. will be searching for a headliner for their exit to show it's making headway. Of course Obama is too ****ing stupid and political to do anything like this.
     
  6. Plutonius macrumors 603

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    Obama is a lame duck so it's doubtful that any of the leaders will take him seriously. Obama would be better off spending all his remaining time campaigning for Hillary :).
     
  7. thermodynamic Suspended

    thermodynamic

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    The articles and charts that showed data are the ones doing that. I am saying nothing but sharing what others wrote, and in some posts reacting to what others wrote.
    --- Post Merged, Sep 4, 2016 ---
    Then why wouldn't he? Apart from nonintervention or inviting possible political bias?
     
  8. Bug-Creator macrumors 6502

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    @Zombie Acorn

    Isn't what he is realy saying that the UK might get thrown under the bus when negotiting trade with partners several times bigger?

    Partners equal in size have better chances of aggreeing to fair terms. UK will be in a position that they need those deals far more then th US.

    Deal with the remaining EU will be even harder they don't want Brexit to much of a success.
     
  9. 1458279 thread starter Suspended

    1458279

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    Ok, I wasn't sure of the point. I agree with the point, sorry if it came out wrong.
    --- Post Merged, Sep 4, 2016 ---
    It's always a 2 way street. UK is the 5th largest economy in the world. If the EU want's to sell their goods there, they'll have to work with the UK.
     
  10. Michael Goff macrumors G4

    Michael Goff

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    #10
    Nope. They were the fifth largest. France is the fifth largest. Why? The British Pound took a beating because of the Brexit.
     
  11. Bug-Creator macrumors 6502

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    Yeah, but it's still chickenfeed compared to USA,China or the EU(-UK) hence not a deal between equals.

    UK needs the EU much more than the other way round, and that is before the political level kicks in (EU just can't afford the UK to be seen as the "winner" is such a deal).
     
  12. 1458279 thread starter Suspended

    1458279

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    That's not the case. The EU needs to sell their over priced product to someone in order to stay afloat. The more overhead a nation has, the more debt they have, the more they need to sell their product outside their nation. The UK is in a position where they can build the factories that produced the replacement products they no longer buy from the EU.

    Same could be said about the US. If the US stops buying from outside the US, they'd get more jobs from building factories to produced the goods. And before someone says it'll cost more for the goods because of labor, you just replace most of the labor with robots, problem solved.

    Having a bunch of factories in the EU that produced overpriced products that nobody buys is a MUCH worse position to be in. Their store shelves will be stocked and there'll be no customers to buy the goods. Pretty basic business stuff here. It's not like UK never existed before the EU.

    The EU does nothing but add more red-tape and overhead. This is the part of the reason people leave the US to make things, too much red-tape. The US and EU are going to have a harsh lesson in red-tape.
     
  13. Praxis91 macrumors regular

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    #13
    Of course the globalist puppet is butthurt about Brexit.
     
  14. cube macrumors G5

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    #14
    It is easier for the US to push its policies on the EU if the UK is a member. Add to that the transfer of a good amount of business from the UK, and some people are not that unhappy the British decided to leave.
     
  15. rdowns macrumors Penryn

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    #15

    British Prime Minister Says Brexit Will Wound U.K. Economy

     
  16. steve23094 macrumors 68000

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    That's not true.

    http://forums.macrumors.com/threads/eu-vote-uk.1976088/page-52#post-23058890
    --- Post Merged, Sep 4, 2016 ---
    I saw Obama's speech in full. He looked half asleep and was just dialling it in. It's possible at this stage of his presidency he is very weary, or maybe he just doesn't care anymore.
     
  17. Michael Goff macrumors G4

    Michael Goff

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    #17
  18. 1458279 thread starter Suspended

    1458279

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    So that's just based on the exchange rate of the pound. The effects of Brexit hasn't happened yet because they haven't started the process past the vote. The effects won't be know for quite a while and the Pound has been on decline for a while now. Looks like 1.7 to 1.3 from 2014 to now.

    It's just speculation at this point. Much is dependent on how the UK handles the post exit. Given the tax rate of the UK, it could be come the next goto place for high tech businesses.
    http://www.x-rates.com/graph/?from=USD&to=GBP&amount=1

    US tax rates are 39% UK rates are 20%

    https://en.wikipedia.org/wiki/List_of_countries_by_tax_rates

    They might see quite a boom over there once they're out of the EU and all that red-tape. Nothing like red-tape and high taxes to kill businesses.
     
  19. steve23094 macrumors 68000

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    #19
    No, you're still wrong.

    Within the post I have linked are the most recent GDP figures available which are from 2015. It was then calculated what the fall in pound after the Brexit vote meant to those figures. Nothing from 2014.

    You have linked an article whose source is 'The London Economic'. The same source that I discussed and discredited in my linked post.

    So stop spreading FUD.
     
  20. Michael Goff macrumors G4

    Michael Goff

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    #20
    Except you didn't discredit them in your post. You brought 0 proof, 100% speculation. Any proof that their figures for 3015 are wrong? Any? Or just "they didn't like Brexit, they must be lying"?
     
  21. steve23094, Sep 4, 2016
    Last edited: Sep 4, 2016

    steve23094 macrumors 68000

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    #21
    You ask me for proof their figures are wrong? They have never published any.

    You and your linked article bring zero figures and zero data to the table. The London Economic did not publish any figures, any paper, or any information how they came to that conclusion. So yeah, I call bull crap.

    I supplied figures which originated from the IMF, provided a source and showed all workings.

    You're the one trying to show a change in the status quo so it's up to you to provide evidence, but instead you have arrived empty handed.

    Good job. /s
     
  22. Michael Goff, Sep 4, 2016
    Last edited: Sep 4, 2016

    Michael Goff macrumors G4

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    http://mobile.reuters.com/article/idUSKCN0ZM1T5

    And yet this one has numbers.

    Edit: I'll make you a deal. Find a single reputable source that contradicts either the numbers or the methodology and I'll back off and declare you right.
     
  23. steve23094 macrumors 68000

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    I know exactly how they came to those figures and it’s bogus accounting.

    The IMF publishes all GDP figures in USD. The UK figures in your linked article were first converted from USD to GBP, and then again to EUR. That means they built in the drop in the value of the pound twice, once for the US Dollar and again against the Euro. Dodgy accounting methods like that wouldn’t pass a primary school economics lesson. It should be calculated as was done in my original linked post.

    Since I wrote my original post on the 26th of June the IMF has published nominal GDP projections for 2016. As always in USD and millions.

    France 2,488,378
    UK 3,054,840

    Source: https://en.m.wikipedia.org/wiki/List_of_IMF_ranked_countries_by_historical_GDP_(nominal)

    This data was available to you before you posted your rubbish earlier in the thread. So tell me again on what planet is France’s economy now larger than the UK? Oh that’s right, your own planet of spreading misinformation and FUD.
     
  24. Michael Goff macrumors G4

    Michael Goff

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    #24
    I hadn't noticed that. You're right.
     
  25. Bug-Creator macrumors 6502

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    #25
    About the UK being 5th or 6th, there once was a time when we were told (and even experts believed) that East Germany was 10th on GDP.

    All fell apart once the USSR stopped giving oil for non-money and hit rockbottom the very day that had to pay wages in real money.

    The UK GDP contains lots of hot air (banking, real estate) just waiting to collapse and what little industry they have is to a large part multinationals producing for the EU market.

    The whole idea that going isolated woul recreate a fairy tale version of 1960 is more then a little naive.
     

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